Key Points
- Major shareholder Peter Kellogg bought 215,000 Mercer International shares at an average price of $0.95 each, spending $204,250 and increasing his stake by 17.1% to 1,472,000 shares.
- Mercer International recently reported a quarterly loss of ($0.78) per share, missing analyst expectations, while revenue of $489.3 million also came in slightly below estimates.
- Sentiment remains weak: the stock has a Strong Sell consensus rating from analysts, with shares trading near $1.00 and well below their 52-week high of $4.47.
Mercer International Inc. (NASDAQ:MERC - Get Free Report) (TSE:MRI.U) major shareholder Peter Kellogg acquired 105,000 shares of the company's stock in a transaction that occurred on Tuesday, May 19th. The shares were acquired at an average cost of $0.97 per share, with a total value of $101,850.00. Following the purchase, the insider directly owned 1,957,000 shares of the company's stock, valued at $1,898,290. This trade represents a 5.67% increase in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Large shareholders that own at least 10% of a company's shares are required to disclose their transactions with the SEC.
Mercer International Trading Up 2.6%
NASDAQ MERC opened at $1.00 on Thursday. The stock's 50-day simple moving average is $1.21 and its two-hundred day simple moving average is $1.71. Mercer International Inc. has a twelve month low of $0.75 and a twelve month high of $4.47. The company has a quick ratio of 1.22, a current ratio of 2.17 and a debt-to-equity ratio of 23.58. The company has a market capitalization of $66.97 million, a price-to-earnings ratio of -0.13 and a beta of 0.53.
Mercer International (NASDAQ:MERC - Get Free Report) (TSE:MRI.U) last released its quarterly earnings results on Thursday, May 7th. The basic materials company reported ($0.78) earnings per share for the quarter, missing analysts' consensus estimates of ($0.74) by ($0.04). Mercer International had a negative net margin of 28.51% and a negative return on equity of 136.20%. The firm had revenue of $489.30 million for the quarter, compared to analysts' expectations of $493.00 million. Research analysts forecast that Mercer International Inc. will post -2.21 EPS for the current fiscal year.
Analyst Upgrades and Downgrades
A number of research firms have weighed in on MERC. TD Securities downgraded Mercer International from a "hold" rating to a "strong sell" rating in a research report on Wednesday, February 18th. TD lowered their price target on Mercer International from $1.00 to $0.50 and set a "sell" rating on the stock in a research report on Monday, May 11th. Weiss Ratings restated a "sell (e+)" rating on shares of Mercer International in a research report on Friday, March 27th. TD Cowen downgraded Mercer International from a "hold" rating to a "sell" rating and raised their price target for the company from $2.00 to $2.25 in a research report on Wednesday, January 21st. Finally, Royal Bank Of Canada decreased their price objective on Mercer International from $1.25 to $1.00 and set a "sector perform" rating on the stock in a report on Monday, May 11th. Two analysts have rated the stock with a Hold rating and four have issued a Sell rating to the company's stock. According to MarketBeat, Mercer International presently has a consensus rating of "Strong Sell" and a consensus price target of $1.85.
Get Our Latest Analysis on MERC
Institutional Inflows and Outflows
Several large investors have recently modified their holdings of the stock. Geode Capital Management LLC increased its holdings in shares of Mercer International by 2.7% in the fourth quarter. Geode Capital Management LLC now owns 561,001 shares of the basic materials company's stock worth $1,111,000 after buying an additional 14,603 shares during the period. Millennium Management LLC increased its holdings in shares of Mercer International by 16.1% in the third quarter. Millennium Management LLC now owns 994,974 shares of the basic materials company's stock worth $2,866,000 after buying an additional 137,906 shares during the period. Iat Reinsurance Co. LTD. increased its holdings in shares of Mercer International by 1.3% in the third quarter. Iat Reinsurance Co. LTD. now owns 16,700,000 shares of the basic materials company's stock worth $48,096,000 after buying an additional 220,000 shares during the period. Gabelli Funds LLC purchased a new position in shares of Mercer International in the second quarter worth about $1,804,000. Finally, Gamco Investors INC. ET AL purchased a new position in shares of Mercer International in the second quarter worth about $244,000. Hedge funds and other institutional investors own 85.79% of the company's stock.
Mercer International Company Profile
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Get Free Report)
Mercer International Inc is a publicly traded pulp producer headquartered in Vancouver, British Columbia. Listed on the NASDAQ under the symbol MERC, the company specializes in the manufacture of Northern Bleached Softwood Kraft (NBSK) pulp and dissolving pulp for use in tissue, specialty paper and textile applications.
Mercer's core business activities include the operation of integrated pulp mills in North America and Europe. Its production portfolio encompasses NBSK pulp, renowned for its strength and versatility, and dissolving pulp, which serves as a key raw material in the manufacture of viscose, cellulose acetate and other specialty products.
The company's facilities are located in British Columbia and the U.S.
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